6 Jun 2013
Flash: USD/JPY pair looks to trend lower – UBS
FXstreet.com (Barcelona) - UBS Strategists, Gareth Berry and Geoffrey Yu take a technical perspective at today's majors and outline the technical positions.
Beginning with the USD/JPY, with the MACD threatening to settle below its zero line, the support focus is at 97.31, a break below this would open 95.79. Resistance is at 100.46, suggesting a bearish outlook.
As for the GBP/USD, “Having closed above 1.5378 and as the MACD cross above its zero line, the risk is for further upside to 1.5606. Support is at 1.5274, suggesting a bullish near-term outlook.” Finally, regarding the USD/CHF, there is an important support at 0.9334. A closing break below this would be negative, triggering a deeper sell-off to 0.9247 – resistance is at 0.9494 ahead of 0.9565.
Beginning with the USD/JPY, with the MACD threatening to settle below its zero line, the support focus is at 97.31, a break below this would open 95.79. Resistance is at 100.46, suggesting a bearish outlook.
As for the GBP/USD, “Having closed above 1.5378 and as the MACD cross above its zero line, the risk is for further upside to 1.5606. Support is at 1.5274, suggesting a bullish near-term outlook.” Finally, regarding the USD/CHF, there is an important support at 0.9334. A closing break below this would be negative, triggering a deeper sell-off to 0.9247 – resistance is at 0.9494 ahead of 0.9565.